AceTraderFx Dec 7: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
07 Dec 2015 02:22GMT
GBP/USD - ....... Despite falling to 1.5082 in New York afternoon on Friday, the British pound pared its losses and rebounded to 1.5117 in late New York afternoon.
Price met renewed selling ahead of Asian open and retreated in tandem with euro to 1.5098 at Asian open and continues to remain under pressure.
Since there is no major eco. data due today, price is likely to track euro's intra-day movements closely.
Having said that, one should keep a keen eye on eur/gbp cross.
Bids are now lowered to 1.5070/80 and more below at 1.5050/60 with stops building up below there whilst initial offers are noted at 1.5130/40, suggesting st traders should look to sell on minor recovery but position trader should buy on dips for a resumption of recent uptrend.
Intra-Day Market Moving News and Views
07 Dec 2015 02:22GMT
GBP/USD - ....... Despite falling to 1.5082 in New York afternoon on Friday, the British pound pared its losses and rebounded to 1.5117 in late New York afternoon.
Price met renewed selling ahead of Asian open and retreated in tandem with euro to 1.5098 at Asian open and continues to remain under pressure.
Since there is no major eco. data due today, price is likely to track euro's intra-day movements closely.
Having said that, one should keep a keen eye on eur/gbp cross.
Bids are now lowered to 1.5070/80 and more below at 1.5050/60 with stops building up below there whilst initial offers are noted at 1.5130/40, suggesting st traders should look to sell on minor recovery but position trader should buy on dips for a resumption of recent uptrend.